Taiwan's aviation market forecast to maintain steady growth (update) - Focus Taiwan

Taiwan's aviation market forecast to maintain steady growth (update)

Taipei, Nov. 6 (CNA) Taiwan, along with other Northeast Asian countries, could expect steady growth in both passenger and cargo air transport over the next 20 years as the world economy improves, a Boeing executive said Thursday in Taipei.

Taiwan's economy is poised to take off at the highest growth rate in the region, which could spur an increase in air travel, particularly on cross-Taiwan Strait flights, said Randy Tinseth, vice president of Marketing at Boeing Commercial Airplanes.

To meet market demand in Northeast Asia from 2014 to 2033, it will require 1,340 new commercial airplanes that will cost US$280 billion, to serve Taiwan, Japan and South Korea, Tinseth said.

Wide-body planes will continue to be at the heart of that regional market, he said.

"We will see older aircraft replaced with new, more fuel efficient models, and continued expansion of long-haul international services, with the booming tourism industry in Taiwan," he said.

Worldwide, both passenger and cargo traffic could finish stronger in 2014, posting growth of 6 percent and 5 percent, respectively, according to Tinseth.

He also said Boeing anticipates that small- and medium-sized twin-aisle aircraft, such as the 787 Dreamliner and 777 airplanes, will make up the bulk of its future deliveries.

Boeing also sees airlines investing US$5.2 trillion in 36,800 new commercial airplanes to be delivered over the next 20 years, Tinseth said.

(By Lee Hsin-Yin)ENDITEM /pc

Related:●Nov. 6: Taiwan's aviation market forecast to maintain steady growth

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